Property owners are reducing rent to help small business owners suffering from the national crisis caused by COVID-19. The trend of the ‘Good Landlord’ is also spreading in Jeju. (성산) Seongsan community leaders have decided to cut rent for the community’s public properties and landlords at (칠성로) Chilseong-ro have joined the movement. Meanwhile, the provincial council has proposed a bill to reduce rental fees for the island’s government-owned buildings. Todd Thacker reports.
This is Seongsan Sunrise Peak, a UNESCO World Natural Heritage site and popular travel destination that is generally packed with tourists all year round. Today, though, the fear surrounding the spread of COVID-19 has meant that the area is empty. The normally bustling parking lot is empty, too. Some shops have closed their doors.
As the fight to stem the spread of the virus continues, (성산) the Seongsan community has decided to join the so-called ‘Good Landlord’ movement to help small shop owners.
The community has said it will cut rents by 25 percent for the next four months. This means leaseholders can save between 450,000 won and 34 million won.
Starting with public organizations and financial institutions, the number of individual landlords who have joined the movement to lower rents has grown.
Ten building owners in (칠성로) Chilseong-ro, Jeju City, have volunteered to support leaseholders who have seen a plunge in sales. They have cut rents by 10 percent or returned 50 percent of the rent money they had already received.
Along with the efforts in the private sector, two provincial councillors, (송영훈) Song Yeong-hun and (강성민) Gang Seong-min, have proposed an ordinance bill to cut rental fees for leaseholders in province-owned buildings.
INTERVIEW Song Young-houn / Councilor The proposal includes a 50% rent cut until the end of the year for province-owned buildings. If the bill is passed at the Special Session in April, 418 shop owners in the underground shopping mall in Jeju City and Jungang Shopping District in Hallim will receive a rent reduction. <인터뷰 : 송영훈 / 제주도의회 예산결산특별위원장> "공유재산 임대료의 50%를 올해 말까지 한시적으로 감면할 수 있도록 하는 단서조항을 달았습니다. 만약 이 조례가 4월 임시회에서 통과되면 제주시 지하상가와 한림 중앙상가 418개소에 5억 원의 임대료가 감면이 될 것으로…."
Meanwhile, the province is actively supporting local shop owners by exempting or reducing local property taxes for the landlords who lower rental fees.